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EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.2828 but further bearish pressure was rejected and hit 1.2941 earlier today. The double top bearish phase is losing strength but remains valid. The bias is neutral in nearest term. Immediate resistance is seen around 1.2950 followed by 1.3000. Immediate support is seen around 1.2890 but key/strong intraday support is seen around 1.2820. As long as stays inside the bullish channel I still prefer a bullish scenario. Major support is seen around 1.2740 (38.2 Fibonacci retracement of 1.2041 – 1.3170.)
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